SVB collapse: Bank donated over $70 million to Black Lives Matter groups before closure

Silicon Valley Bank, WHich was Federal regulators have closed the case Last week, donations totaled just over $73 Million Black Lives MatterAccording to a conservative data base, it was associated with social justice movements just before it was shut down.

A Report The Claremont Institute revealed that the bank had donated $73,400,000 towards Black Lives Matter and other social-justice organizations following the events of George Floyd’s death. Over the years, donations have accumulated. New York-based Signature BankThe company also closed last week and donated $850,000 over many years to similar groups.

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SVB made a promise to Floyd in the summer 2020 to expand its commitment. “diversity, equity and inclusion.” Greg Becker, CEO, reported that two thirds of employees had achieved the company’s diversity goal in August that year.

The company’s employee match program was also focused on “pandemic response, social justice, sustainability, and supporting women, black and Latinx emerging talent, and other underrepresented groups,” According to Becker.

Conservative critics are trying to make fun of the company for this revelation. “woke” Instead of focusing solely on red flags that could have prevented the bank’s collapse, focus on policies

“[SVB is] one of the most woke banks in [its] quest for the ESG-type policy and investing,” Rep. James Comer Fox News: (R-KY) On Sunday. “This could be a trend, and there are consequences for bad Democrat policy.”

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Democrats blame the situation on the former President Donald Trump Approval of the Economic Growth, Regulatory Relief and Consumer Protection Act, which rolledback key regulations put in place after 2008’s financial crisis. Former Massachusetts Democratic Representative Barney Frank stated that the rollbacks were not responsible for the bank’s collapse.